News stories about State Street Corporation (NYSE:STT) have been trending somewhat positive on Saturday, Accern Sentiment reports. The research group identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. State Street Corporation earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave media coverage about the asset manager an impact score of 45.9131831566234 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s rankings:
- State Street Corporation (NYSE:STT) Expected to Post Quarterly Sales of $2.90 Billion (americanbankingnews.com)
- Brandes Investment Partners, Lp Sold A Lot More State Street Corporation (STT) Stock – First News 24 (firstnewspaper24.com)
- State Street Corporation (STT-G) AO Signal Intensifying Over Past 5 Bars – Berry Recorder (berryrecorder.com)
- Brandes Investment Partners, Lp Modifies Its Position in State Street Corporation (STT) – Modern Readers (modernreaders.com)
- Wells Fargo & Company Initiates Coverage on State Street Corporation (NYSE:STT) (americanbankingnews.com)
Several brokerages have issued reports on STT. UBS AG raised shares of State Street Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $92.00 in a research note on Monday, June 5th. BidaskClub raised shares of State Street Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Buckingham Research reissued a “buy” rating and issued a $107.00 price objective (up previously from $94.00) on shares of State Street Corporation in a research note on Monday, July 10th. Keefe, Bruyette & Woods set a $88.00 price objective on shares of State Street Corporation and gave the stock a “hold” rating in a research note on Saturday, July 1st. Finally, Goldman Sachs Group, Inc. (The) raised shares of State Street Corporation from a “buy” rating to a “conviction-buy” rating and raised their price objective for the stock from $92.00 to $100.00 in a research note on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. State Street Corporation has an average rating of “Hold” and an average target price of $90.18.
State Street Corporation (NYSE STT) opened at 92.08 on Friday. The company’s 50-day moving average is $91.78 and its 200 day moving average is $83.61. State Street Corporation has a one year low of $68.16 and a one year high of $96.26. The stock has a market capitalization of $34.43 billion, a price-to-earnings ratio of 17.00 and a beta of 1.30.
State Street Corporation (NYSE:STT) last announced its earnings results on Wednesday, July 26th. The asset manager reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.10. State Street Corporation had a net margin of 19.97% and a return on equity of 12.49%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts expect that State Street Corporation will post $6.13 EPS for the current year.
State Street Corporation announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $1.40 billion in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from State Street Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.82%. State Street Corporation’s dividend payout ratio is currently 28.15%.
In other State Street Corporation news, Director Amelia C. Fawcett sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $93.38, for a total value of $466,900.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeffrey N. Carp sold 2,656 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $87.88, for a total transaction of $233,409.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,069 shares of company stock worth $1,422,969. Insiders own 0.64% of the company’s stock.
State Street Corporation Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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